Toyota Motor Corp. will spend $10 billion in US capital investments over the next five years, President Akio Toyoda announced.

    Toyoda made the announcement during a news conference at the North American International Auto Show in Detroit as the Japanese auto giant unveiled its redesigned 2018 Camry model.

    "The Camry has been one of the reasons why we've invested $22 billion in the US over the last 60 years and why we will invest another 10 billion here in just the next five years alone," he said. "We are deeply grateful for the millions of customers who made Camry the number one best-selling car in America for the last 15 years," Toyoda said.